Grade 9 Financial literary :credit transactions


Last term we learned about cash transactions. In Accounting there other financial transactions besides the cash transactions. Can you name those financial transactions? 

Credit transaction is a financial interaction of selling and purchasing goods and pay the mount at a later stage

  • Sometimes consumers may not have cash or enough cash to purchase the good immediately 
  • Business donot want to loose these sales so they offer credit to its consumers.

A business will need to keep very accurate records of who owes the business money how much they owe. The business will need to make sure that they can replace the stock sold on credit. They will either do this paying cash or by purchasing on credit themselves. 



Work on your own

1.Fill in the missing words. 

1.1. Aperson who buys goods on credit from a business 

1.2. Credit sales will be recorded in the..... journal. 

1.3. The source document to record credit sales in the business is the..... 

1.4. Payment made by debtors on their accounts, will be record in the... Journal 

1.5. The source document to enter receipts from by debtors, is.... 

1.6. If debtors return goods to the business, it will be recorded in the..... journal 

1.7. The source document used to record returns in the books of the business is the..... 






Credit transactions  requires business to keep very accurate records of who owes the business money how much they owe. This form of action occurs through:   

1.Recoding in source documents,


3.General ledger

4.Trial balance

This means the customer owes(debtor) the business money and the business( creditor) will receive this money later. Business keeps the reco Credit transactions in to two types of Journals :Debtors Journal and creditors Journal 

The focus will be on the a Debtors Journal in this j.ournal we only keep of Credit sales. Credit sales are the goods and services that are sold and paid at a later stage. 



Memorandum : Activity 1


1.1. Debtor 
1.2. Debtors Journal 
1.3. Credit invoice
1.4. Cash Payment Journal 
1.5. Cash register roll
1.6. Debtors allowance Journal 
1.7. Credit note 





The purpose of this lesson was to bring light to my students about Analysis of Credit transactions. My students were able to :

Differentiate the different types of financial transactions 

Identity the applicable  source documents for different credit transactions. 

Determine the Subsidiary Journal a keep the records of credit transactions. 



Successful Learners textbook EMS grade 9.

Successful Teachers guide textbook EMS grade 9

Teacher Page

This was an introduction of the  Financial literary that covers the basics of accounts and analysis of accounts. The Task was to check whether students are ready to proceed with the topic or not. According to the lesson outcome, compared to students performance I discovered that we can us proceed with the topic because students have understood the basic concepts.